November 3, 2016
China State Construction awarded main contract for Dubai project

DAMAC Properties announced on November 2, 2016 that it has awarded China State Construction Engineering Corporation (Middle East) LLC (China Construction) a AED 554 million contract to build the Paramount Residences at the Paramount Tower Hotel and Residences in Dubai. China Construction has been awarded the main work contract for 27 floors that comprise a collection of luxury residences. Paramount Tower Hotel & Residences is an 867-key luxury hotel and hotel residences tower on Sheikh Zayed Road. The 64-storey project will offer a sky lobby with views across the Burj area, a private Paramount Pictures screening room, a rooftop infinity swimming pool with a terrace and a fitness and wellness centre with a state-of-the-art spa. The project is scheduled for completion in Q1 2020. The residences at Paramount Tower Hotel & Residences feature hospitality units with separate living and dining areas, as well as two and three-bedroom arrangements in addition to exclusive penthouses. Combining the comforts of home with the Paramount Hotels & Resorts amenities, units are suitable for use by investors seeking a permanent or vacation home and also present a unique investment opportunity when away, reaping high returns and benefiting from hassle-free management and service by the operator. The architect on Paramount Tower Hotel & Residences is LACASA Architects and Engineering Consultants.